Billionaire Gautam Adani was rejected by this Mumbai college; decades later he was invited to deliver lecture there

India’s second richest man, Gautam Adani, was rejected by Mumbai’s Jai Hind College in the late 1970s. But decades later, he was invited by the same college to deliver a lecture on Teachers’ Day.

Adani applied for admission to Jai Hind College, but his application was rejected, Vikram Nankani, President of the Jai Hind College Alumni Association, informed the gathering.

During his lecture, Adani opened up on his early days in Mumbai and how he could not finish his education.

“I was just 16 years old when I decided to break my first boundary. I had to do with my education and move to an unknown future in Mumbai,” Adani said while addressing the gathering. People still ask me why I moved to Mumbai and why I didn’t complete my education. The answer lies in the heart of every young dreamer who sees boundaries not as barriers but as challenges that test their courage..." he added.

Adani worked as a diamond sorter for nearly two years before returning to his home state of Gujarat to run a packaging factory managed by his brother.

In the 1980s, he started a trading organisation for importing polymers to supply to the struggling small-scale industries, and after the 1991 reforms, he launched his global trading house for polymers, metals, textiles and agri-products at the age of 29. He acknowledged the fact that his business was a beneficiary of the economic reforms.

In 1994, the company went public and Adani Exports, now known as Adani Enterprises, launched its IPO. "The IPO was a strong success and underscored for me the importance of public markets,” he said.

Hindenburg issue

He addressed the Hindenburg issue, saying that it was a short-selling attack initiated from abroad. It was a dual attack targeting financial stability and pulling the company into a political discord. He said that it was a calculated move just before the closing of the follow-on public offer and designed to cause maximum damage.

PM Modi's leadership

Additionally, he also appreciated Prime Minister Narendra Modi’s leadership.

"...In 2014, under the leadership of Prime Minister Narendra Modi, the essence of freedom was further accelerated as reforms and good governance took a central stage. All these years stand as a turning point, each building on the other in India's remarkable journey..."

Dharavi Redevelopment Project

He also spoke about his current projects, especially the Dharavi Redevelopment Project, which according to him, aims to restore the dignity of more than one million people.

" For me, Dharavi is not just about urban renewal. It is about restoring dignity to over one million residents of our country. It is about the possibilities when you dare to dream big and act with purpose," he added.

Dharavi Redevelopment Project (DRPPL) is a joint venture between the Adani Group and the Government of Maharashtra to build flats for the residents of Dharavi slum.